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Bloomberg
Electricite de France (EDF) faces a possible $11 million fine after being accused by French regulators of providing false information on the Hinkley Point C nuclear project and lacking transparency concerning new circumstances that ramped up its cost.
In October 2014, EDF announced it would build the UK’s first nuclear reactors since 1995 after reaching a deal with the government on guaranteed prices for the power they’d generate. The energy firm also said the project would benefit from a British credit guarantee on conditions that were yet-to-be agreed.
EDF and former chief executive officer Henri Proglio should have specified in a statement a year later that the UK had said it would impose heavy equity requirements to provide the credit guarantee, according to Bernard Field, an official at the Autorité des Marchés Financiers.